All goods accumulated at the ports have been released, especially food commodities, medicines, feed, and production requirements.
All outstanding import requests for essential commodities at Egypt's ports have been fully financed by Egyptian banks, effectively eradicating the months-long waiting list, Egyptian bankers told Asharq Bloomberg.
All goods accumulated at the ports have been released, especially food commodities, medicines, feed, and production requirements.
Recently, Head of the Egyptian Customs Authority, El Shahat Ghatouri, told Asharq Bloomberg that Egypt released goods worth more than $14.5 billion since January until the end of last week.
In March, He added that the value of goods accumulated in Egyptian ports currently amounts to about 6 billion dollars, including petroleum products.
Earlier in March, Prime Minister, Mostafa Madbouly, stated that Egypt released a large portion of the goods accumulated in the various ports, amounting to $3 billion during the past few days.
An official at a private bank in Egypt who spoke to Asharq expected that the Central Bank of Egypt (CBE) will soon issue a decision to finance the release of 13 luxury goods after the abundance of foreign currency in the banks.
Earlier, The Monetary Policy Committee (MPC) of the CBE raised the overnight deposit rate, the overnight lending rate, and the rate of the main operation by 600 basis points to reach 27.25%, 28.25%, and 27.75%, respectively. Additionally, the discount rate has been raised by 600 basis points to 27.75%.
